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DeMarcay on Palm
Sarasota Tuesday, Jul. 19, 2016 5 years ago

Palm Avenue condo construction delayed

After originally planning to begin work in June, the developer of the 18-story DeMarcay condominium project says a new start date is to be determined.
by: David Conway Deputy Managing Editor

Although a developer scheduled the demolition of the historic DeMarcay Hotel at 33 S. Palm Ave. for June 15, the building is still standing today.

Construction on the 18-story, 39-unit DeMarcay condominium may have hit a snag, but the builder behind the plans still intends to move forward with the project.

Greg Kveton, the co-principal of XAC Developers, declined to provide specifics regarding the delay. He said new details should be finalized within a couple of months.

“We are working to resolve a few pre-construction issues which have delayed the start of construction, and we expect to announce a revised schedule and new sales team in September,” Kveton said in an email.

Prior to the delay, Premier Sotheby’s International Realty was the sales team attached to the project. Although Premier Sotheby’s agents Matthew Morris and Maureen Morris are still listed on the DeMarcay project website, Matthew Morris confirmed the agency is no longer involved.

“We no longer have that listing,” Matthew Morris said, declining to provide any additional information.

In May, XAC Developers said construction on the project — which also includes the property on which the historic Roth Cigar Factory sits — should be completed within 18 months.

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